Hemoglobinopathy Market Report
Hemoglobinopathy Market, By Indication (Sickle cell disease, Alpha thalassemia, Beta thalassemia), Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), End-Use (Hospitals, Diagnostic Laboratories, Clinics), and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Hemoglobinopathy market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Hemoglobinopathy Market, By Indication (Sickle cell disease, Alpha thalassemia, Beta thalassemia), Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), End-Use (Hospitals, Diagnostic Laboratories, Clinics), and Region
Impact of COVID-19 on Hemoglobinopathy Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Hemoglobinopathy Market is projected to grow from USD 7.3 billion in 2020 to USD 13.2 billion by 2026 at a CAGR of around 10.6% during the forecast period.
Hemoglobinopathy is defined as a genetic disorder that causes structural abnormalities in hemoglobin molecules, particularly defective globin chains. The disease is highly prevalent in Africa, Southeast Asia, and the Mediterranean basin. It can lead to certain other diseases if left untreated such as anemia, organ dysfunction, or death.
Key players operating in the Hemoglobinopathy market are-
The growth of the hemoglobinopathy market is primarily driven by the increasing prevalence of sickle cell disease (SCD) and thalassemia. Rising initiatives aimed at creating awareness among consumers regarding the prevalence of sickle cell diseases are likely to drive the market growth further. In addition to this, increasing investment in research and development activities to develop novel therapies is likely to create lucrative opportunities for the players operating in the global hemoglobinopathy market in the coming years.
By end-use, the hemoglobinopathy market has been bifurcated into hospitals, diagnostic laboratories, and clinics. The hospitals' segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment can be attributed to the presence of established healthcare infrastructure and professional staff.
By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising consumer awareness and growing emphasis on the adoption of novel therapies to treat sickle cell disease coupled with the presence of key market players such as Abbott Laboratories (US) and Bio-Rad Laboratories, Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from sickle cell disease and thalassemia.
The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the hemoglobinopathy market negatively as the therapeutic procedures declined due to fear of coronavirus infection. Also, supply chain disruptions due to the imposition of lockdown affected the product availability on time and thus, affected the market growth.
Here is the list of the group of customers that the hemoglobinopathy market hopes to have the greatest opportunity to convert-
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The hemoglobinopathy market is expected to witness an impressive growth of 10.6% CAGR in the coming years.
Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Mindray Medical International Limited (China), Nexcelom Bioscience (US), Nihon Kohden Corporation (Ja-pan), PerkinElmer (US), Siemens Healthineers AG (Germany) and Sysmex Corporation (Japan) are among the key players in the hemoglobinopathy market.
The hemoglobinopathy market size is expected to reach USD 13.2 billion in the foreseeable future.
The hospitals' segment is expected to register significant growth in the hemoglobinopathy market in the coming years.
North America accounted for the largest share in the hemoglobinopathy market in 2020.
Hemoglobinopathy distributors, Hemoglobinopathy suppliers, Hemoglobinopathy manufacturers, Logistics organizations, Government bodies are the target audience in the hemoglobinopathy market.